ECOWAS: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2025

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in ECOWAS

In 2021, the ECOWAS market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) was finally on the rise to reach $X after two years of decline. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the near future.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in ECOWAS

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021 estimated in export price. Overall, production showed a perceptible increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 107%. As a result, production attained the peak level of $X. From 2016 to 2021, production of growth failed to regain momentum.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports in ECOWAS

In 2021, shipments abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased by 21% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 72%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021. In general, exports, however, continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

The shipments of the eight major exporters of acrylic polymers, in primary forms (excluding polymethyl methacrylate), namely Nigeria, Senegal, Burkina Faso, Ghana, Sierra Leone, Mali, Guinea and Liberia, represented more than two-thirds of total export.

From 2012 to 2021, the biggest increases were recorded for Burkina Faso (with a CAGR of +44.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) emerged as the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) supplier in ECOWAS, comprising 33% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 13% share of total exports. It was followed by Sierra Leone, with a 12% share.

In Senegal, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased at an average annual rate of +26.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (+34.6% per year) and Sierra Leone (-12.8% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, picking up by 3.7% against the previous year. Overall, the export price, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2019 when the export price increased by 27%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports in ECOWAS

In 2021, after seven years of growth, there was significant decline in supplies from abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate), when their volume decreased by -12.5% to X tons. Over the period under review, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 37%. Over the period under review, imports of hit record highs at X tons in 2020, and then fell in the following year.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) rose significantly to $X in 2021. Overall, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2018 when imports increased by 33% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Nigeria (X tons) represented the largest importer of acrylic polymers, in primary forms (excluding polymethyl methacrylate), creating 48% of total imports. Ghana (X tons) ranks second in terms of the total imports with a 23% share, followed by Cote d'Ivoire (9.5%) and Senegal (8.4%). The following importers - Guinea (X tons), Burkina Faso (X tons) and Mali (X tons) - together made up 9.3% of total imports.

From 2012 to 2021, average annual rates of growth with regard to acrylic polymers, in primary forms (excluding polymethyl methacrylate) imports into Nigeria stood at +9.8%. At the same time, Senegal (+33.0%), Ghana (+25.6%), Cote d'Ivoire (+21.6%), Guinea (+12.2%), Burkina Faso (+11.0%) and Mali (+7.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +33.0% from 2012-2021. While the share of Ghana (+13 p.p.), Senegal (+6.3 p.p.) and Cote d'Ivoire (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-18.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported acrylic polymers, in primary forms (excluding polymethyl methacrylate) in ECOWAS, comprising 45% of total imports. The second position in the ranking was taken by Ghana ($X), with a 22% share of total imports. It was followed by Senegal, with a 10% share.

In Nigeria, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) increased at an average annual rate of +7.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+15.8% per year) and Senegal (+25.8% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 23% against the previous year. Overall, the import price, however, continues to indicate a perceptible descent. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform